N.Dashzeveg: Per capita GDP will rise to USD 10,000
The MPP recently ratified the party’s “People’s Development” program, which promises to dramatically increase per capita GDP in Mongolia by 2031- perhaps up to USD 60,000.
Our correspondent spoke with economist N.Dashzeveg about the feasibility of such a large increase. He said MPP member and Defense Minister J.Enkhbayar has stated that the method used to calculate the GDP figure is known as “T21.” But N.Dashzeveg has doubts about that method.
N.Dashzeveg has estimated per capita GDP through 2013, and by his reckoning, GDP growth will rise to MNT 72.7 billion and the population will increase to 3.5 million, meaning per capita GDP will be about MNT 21 million. If the tugrik’s rate against the U.S. dollar were MNT 2,000, that would work out to a per capita GDP of about USD 10,000 – significantly lower than the MPP’s prediction.
N.Dashzeveg said he used the City Bank method to estimate per capita GDP. City Group specialists believe Mongolia’s economy will annually grow by 8.7 percent to 2030, he added.
Our correspondent spoke with economist N.Dashzeveg about the feasibility of such a large increase. He said MPP member and Defense Minister J.Enkhbayar has stated that the method used to calculate the GDP figure is known as “T21.” But N.Dashzeveg has doubts about that method.
N.Dashzeveg has estimated per capita GDP through 2013, and by his reckoning, GDP growth will rise to MNT 72.7 billion and the population will increase to 3.5 million, meaning per capita GDP will be about MNT 21 million. If the tugrik’s rate against the U.S. dollar were MNT 2,000, that would work out to a per capita GDP of about USD 10,000 – significantly lower than the MPP’s prediction.
N.Dashzeveg said he used the City Bank method to estimate per capita GDP. City Group specialists believe Mongolia’s economy will annually grow by 8.7 percent to 2030, he added.
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